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Results: 1-10 of 47

Litigation threat means public companies should review director compensation process
  • Locke Lord LLP
  • USA
  • June 16 2015

Corporate directors are permitted to, and regularly do, set their own compensation. This has not been controversial because boards have typically


How public companies can prepare for the executive compensation clawback regime
  • Locke Lord LLP
  • USA
  • July 8 2015

Many public companies have not waited for the Securities Exchange Commission (SEC) to mandate executive compensation recovery policies, as required


D&O policy exclusion barring coverage for securities suits is not limited to only the insured's securities
  • Locke Lord LLP
  • USA
  • November 24 2008

The Eighth Circuit Court of Appeals recently upheld an exclusion in a D&O policy barring coverage for suits against officers and directors arising out of the underwriting and sales of securities


SEC proposes roadmap for the use of International Financial Reporting Standards
  • Locke Lord LLP
  • USA
  • December 1 2008

Last month, the United States Securities and Exchange Commission (“SEC”) issued a release (“Release”) setting forth a roadmap (“Roadmap”) for the potential use by U.S. issuers of financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board, rather than statements prepared in accordance with U.S. GAAP accounting standards


CFPB Ombudsman’s Office releases its annual report
  • Locke Lord LLP
  • USA
  • December 2 2015

On December 2, 2015, the Consumer Financial Protection Bureau (CFPB) Ombudsman's Office released its annual report, which provides a summary of the


SEC proposes CEO pay ratio disclosure rule
  • Locke Lord LLP
  • USA
  • September 26 2013

The SEC issued a proposed rule on September 18, 2013, that would require most public companies to report the ratio between the annual total


Protocol for broker recruiting cannot strip non-signatories of rights
  • Locke Lord LLP
  • USA
  • October 10 2012

A recent decision issued by a FINRA Arbitration Panel in Massachusetts firmly rejected the argument that the terms of the Protocol for Broker Recruiting should be imposed on a non-signatory as purported industry standard


Merrill Lynch subprime-related shareholder derivative action dismissed
  • Locke Lord LLP
  • USA
  • March 2 2009

On February 17, 2009, the US District Court for the Southern District of New York dismissed, without prejudice, a shareholder derivative action pending against Merrill Lynch's directors and officers alleging breach of fiduciary and waste of corporate assets in connection with Merrill Lynch's exposure to subprime debt


Federal Appeals Court: shareholders can sue financial advisers in state court under Delaware carve-out of Securities Litigation Uniform Standards Act (SLUSA)
  • Locke Lord LLP
  • USA
  • March 3 2009

On February 12, 2009, the U.S. Court of Appeals for the Ninth Circuit held that shareholders of St. Joseph Medical Corp. (“St. Joseph”) could bring a securities class action against Cowen & Company (“Cowen”), an investment bank, in California state court under the Delaware carve-out of SLUSA for poor advice provided during the merger of the closely-held corporation with FPA Medical Management (“FPA”), a publicly-held company


SEC proposes rules on required say-on-pay and golden parachute votes
  • Locke Lord LLP
  • USA
  • November 1 2010

The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law in July 2010, will require public companies to put specific matters to their stockholders for non-binding, advisory votes as early as January 2011